Reinsurance News

InsurTech news

Insurance and reinsurance technology related news, focused on the wave of interest in InsurTech start-ups, investing in insurance technology initiatives, as well as reinsurance tech start-ups or ReinsurTech.

Koffie Insurance raises $11 million to drive expansion and growth

21st July 2022

Koffie Insurance, an insurtech that focuses on providing financial services to the trucking and transportation sector, has announced the closing of an $11 million Series A, which now brings the company’s total funding to date to $15.5 million. The round was led by Anthemis Group which specializes in funding best-in-class, high-growth, ... Read the full article

SCOR to use Concirrus’ Marine Hull Market Model

20th July 2022

Global insurer and reinsurer SCOR has adopted the Marine Hull Market Model from insurtech Concirrus to improve loss ratios within its marine line of business. Concirrus’ Model - delivered via its data and analytics platform, Quest - leverages the insight of multiple data sources for a market-wide perspective on valuing an ... Read the full article

Swiss Re & Cover Whale teaming up to improve auto accident risk assessment

20th July 2022

Swiss Re and leading insurtech for commercial auto insurance, Cover Whale Insurance Solutions Inc., are teaming up to improve auto accident risk assessment. Cover Whale will use Swiss Re’s Motor Market Analyzer to further enhance its product offerings to customers. Swiss Re’s Motor Market Analyzer is a proprietary predictive model, which provides ... Read the full article

FutureProof hires Joe Strickland as Head of Underwriting

19th July 2022

FutureProof, a climate-smart property & casualty (P&C) insurtech, has appointed Joseph Strickland as Head of Underwriting. He joins from AIG’s Lexington Specialty Insurance Agency where he served as Senior Vice President for Wholesale Property. Within that role he led regional property teams across the US. “Joe’s unique combination of Florida knowledge, deep ... Read the full article

Generali GC&C partners with Previsico on flood resilience

19th July 2022

Generali Global Corporate & Commercial (GC&C) has partnered with Previsico, a live flood alert insurtech company to “significantly” enhance UK clients’ flood emergency response readiness. Generali GC&C aims to broaden its own insurance coverage capabilities using Previsico’s technical expertise and warning solutions which provide live, actionable surface water flood warnings not ... Read the full article

Hourly.io appoints Markel’s Jerico Vinsonhaler as Head of Underwriting

19th July 2022

Fast-growing insurtech start-up, Hourly.io has appoint former Markel executive Jerico Vinsonhaler to serve as Head of Underwriting. Within this role, Vinsonhaler will oversee Hourly's overall underwriting strategy, portfolio management, as well as manage its underwriting team. Vinsonhaler spent 20 years at Markel, where she led the firms underwriting strategy. Prior to Markel, she ... Read the full article

On matching risk with capital in insurance

18th July 2022

The insurance industry has acquired a reputation for sluggishness. In my experience, however, the appetite to embrace change among insurers and reinsurers is strong. Especially when there is the very real prospect of improving the offering to customers, the products, the way businesses operate, and the efficiency of capital. Despite a number ... Read the full article

Element adding a Co-CEO and raising new capital

15th July 2022

Berlin-based Element, an insurtech start-up, has announced that insurance expert Astrid Stange will join the management team as Co-CEO of the company as of August 1, 2022 and subject to approval by the German Federal Financial Supervisory Authority. She will work alongside Element CEO - Christian Macht, to help lead and ... Read the full article

Pattern appoints Joyce Segall as Head of Underwriting

15th July 2022

Global insurtech Managing General Agent (MGA), Pattern, has appointed Joyce Segall as Head of Underwriting. Segall joins the firms US office and brings over 20 years of experience within underwriting and product development. Some of her previous roles have included leadership positions, heavily focused on innovation, underwriting, end-to-end product development and strategy ... Read the full article

Tensorflight partners with Airbus to boost property assessment capability

15th July 2022

Tensorflight, the AI imaging based insurtech, is partnering with Airbus Defence and Space to increase its property analysis and assessment capabilities. Tensorflight uses three sources of imagery - satellite, aerial and ground level - to automate the process of property inspections and to help insurance companies evaluate commercial ... Read the full article

Expenses around implementing tech top concerns for insurers

15th July 2022

A new report from PwC has found that the most-important driver for insurers embracing new technology has been to lower expense ratios. The survey, Underwriting Transformation Survey: Invest in Change – Drivers, Opportunities, and Risk in the London Market, found that only 3% of respondents saying that this reason was of ... Read the full article

SAP Fioneer announces new vertical product strategy

15th July 2022

SAP Fioneer, a global provider of financial services software solutions and platforms, has announced the launch of a new vertical product strategy to cater for banking and insurance customer needs. According to SAP Fioneer, the adoption of a vertical approach significantly reshapes its offering to customers. By using three platforms to provide ... Read the full article

Integration of loss history, Archipelago’s latest product update

15th July 2022

AI-driven technology platform Archipelago has announced the integration of loss history in its second major product update of 2022. The platform can now integrate customers' location-level loss histories with the Smarter SOV to provide a more comprehensive view of their insured property. According to the company, over $7 trillion of total insured ... Read the full article

Aurenity partners with Origami Risk for underwriting tech platform

14th July 2022

Recently launched tech-enabled E&S MGA, Aurenity has selected Origami Risk as its technology partner to develop its core underwriting platform. Founded by leading underwriting executives and technology experts, Aurenity is building a cutting-edge underwriting ecosystem to deliver sophisticated pricing, speed-to-market adjustments, and best-in-class service. In addition, the tech-enabled MGA’s platform technologies will ... Read the full article

Noldor raises $10 million in first funding round

14th July 2022

Noldor, an insurtech, recently closed on a $10 million seed funding round from a group of well-established insurance investors. The funding round was led by the DESCOvery group at DE Shaw, a global investment and technology development firm based in New York City with participation from several other strategic investors. CEO John ... Read the full article